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DETROIT—Wendy Ellis, Executive Vice President, General Counsel, and Corporate Secretary at DT Midstream , Inc. (NYSE:DTM), recently sold a total of 18,854 shares of the company’s common stock, amounting to approximately $1.75 million. The transactions took place on March 4, according to a filing with the Securities and Exchange Commission. The sale comes as DTM shows strong performance, with the stock delivering a 66.83% return over the past year, according to InvestingPro data.
The shares were sold at prices ranging from $92.69 to $93.28 per share. Following these transactions, Ellis retains ownership of 6,435 shares in the company. The sales were executed in multiple transactions, with the first batch of 8,300 shares sold at a weighted average price of $92.69, and the second batch of 10,554 shares sold at a weighted average price of $93.28. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with the company maintaining a solid dividend yield of 3.52%.
These sales are part of regular insider trading activities and provide insight into the executive’s current stake in the company. DT Midstream, a Detroit-based natural gas transmission company with a market capitalization of $9.5 billion, has demonstrated strong financial health with a 6.4% revenue growth in the last twelve months. InvestingPro subscribers can access detailed insider trading patterns and 6 additional ProTips about DTM’s performance and outlook.
In other recent news, DTE Midstream Inc. reported its fourth-quarter and full-year 2024 earnings, highlighting a 5% increase in adjusted EBITDA to $969 million. The company also raised its quarterly dividend by 12% to $0.82 per share, despite slightly missing the EPS forecast of $0.95 with an actual EPS of $0.94. DTE Midstream announced two new utility-scale power generation projects, reflecting its focus on expanding its natural gas infrastructure. The company has provided guidance for 2025, projecting an 18% growth in adjusted EBITDA to a range of $1,095-$1,155 million. Additionally, DTE Midstream plans to invest $400-$460 million in growth capital, with a focus on expanding its Haynesville system. Fitch upgraded DTE Midstream to investment grade in October, and the company expects further upgrades from other agencies in 2025. These developments indicate a strong strategic direction for DTE Midstream, supported by its robust project backlog and market opportunities.
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